Chartis Research cites Oracle for core technology and overall strategy in managing risk and compliance
For the fourth consecutive year, Oracle Financial Services has been ranked in the top three of the annual Chartis RiskTech100®. Compiled by industry research group Chartis Research, RiskTech100® ranks the world’s top 100 providers of risk management and compliance technology solutions that meet the needs of both financial and non-financial organizations.
Oracle ranked first in the categories of Core Technology, which looks at a vendor’s overall technology stack by benchmarking it against the latest best practices, and Data Integrity and Control, which reviews a vendor’s ability to maintain data quality, a key differentiator for Oracle. Oracle also received an honorable mention in the categories of asset and liability management (ALM), financial crime/anti-money laundering (AML), risk and finance integration, and risk data aggregation and reporting.
This announcement comes after Oracle was ranked as a category leader in the Chartis RiskTech Quadrant® for AML/watchlist monitoring solutions earlier this year.
“Each year our research highlights how vendors’ strategies are changing to address ongoing developments in RiskTech,” said Rob Stubbs, Head of Research at Chartis. “Oracle’s top three placing, and its two award wins this year, reflect its continued commitment to the market.”
A pioneer in modern risk and finance, Oracle Financial Services Analytical Applications product suite is used by many Global Systemically Important Financial Institutions (SIFI).
In September 2019, AsiaRisk (owned by Infopro Digital SAS) ranked Oracle’s ALM solution as Product of the Year for its value add to end users from an innovation and risk perspective. AsiaRisk specifically noted its ability to help bank officers across the organization gain a better understanding of the risks they have assumed and sensitivity in economic conditions.
“Today’s financial institutions are grappling with how to leverage new technology, manage an enormous amount of data, and meet increasingly complex regulatory and compliance requirements,” said Sonny Singh, senior vice president and general manager, Oracle Financial Services. “Our ranking re-affirms our strategy and vision to help organizations adapt, and we remain committed to continuously strengthening our capabilities.”
Now in its 14th year, RiskTech100® is a comprehensive independent study of the world’s major players in risk and compliance technology, and it serves as a valuable assessment and benchmarking tool for all participants in risk technology markets. The rankings in the report reflect Chartis analysts’ expert opinions, along with research into market trends, participants, expenditure patterns and best practices. The analysis is validated through several phases of independent verification.